RAT meaning in Cryptocurrency ?

Answer:

The Rare Antiquities Token is a BVI registered business and is the utility token for the blockchain platform RAT To Pay. The aim of the Rare Antiquities Token is to be the first cryptocurrency used in the museum, gallery and heritage sector whilst also adding to the company assets through the purchasing of appreciating antiquities. The Rare Antiquities Token consists of three main elements, the RAT To Pay chargeback programme, the RAT Antiquities Wallet, and the NFT antiquity rewards for holders.

RAT To Pay RAT To Pay is the infrastructure that allows the museum, gallery and heritage sector to accept The Rare Antiquities Token for admission, goods, dealings and other related tangible goods or services. Through the RAT To Pay chargeback programme, holders of RAT can enter museums using RAT and their admission fee will automatically be refunded to their RAT wallet making entry free of charge.

Antiquities Wallet Antiquities have existed throughout human history and today they can come in many valuable forms, such as statues, coins, art, graffiti, relics, collectibles. As we advance in the digital age, we can even start to view digital collectables as antiquities to some degree. Overview Funded by 2% from buys and 3% from sells, the Antiquities Wallet is used for the purchase of appreciating antiquities under the ownership of the Rare Antiquities Token. Once purchased the value of the asset will add to the market cap of the Rare Antiquities Token. The authenticity, scarcity and ownership of these antiquities would see an appreciation in value over time, thus adding to the value of the assets owned by the Rare Antiquities Token. With NFTs also being added to the assets held it assures a steady rise in value of all assets owned. Transfers To facilitate effortless buying, selling and trading of antiquities amongst dealers and collectors in the museum, gallery and heritage sector, RAT To Pay leverages blockchain for the instant transfer of RAT between users. This cuts costs and time that is normally associated with transactions made in fiat. Partners will accept RAT for the purchase of rare antiquities and agreements made to maintain a healthy lasting partnership that any RAT from the purchase is vested. Minting and NFT Ownership When a new rare antiquity is purchased, as well as adding to the market cap of RAT, a new digital asset will also be created. This is done by minting an NFT from the deed of the purchased antiquity. Each NFT is provided with an associated URI which links that NFT to a set of metadata which includes the antiquities name, licensor, brand, ownership, and type of antiquity. After the minting of an NFT, the fractional ownership is sent to the address of holders proportionate to their holdings at the time of the antiquity purchase.

reference

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